As for the face value: it actually comes out to about C$311 per troy ounce, which is used for metals.

This is actually pretty typical: the face value for bullion coins is always less than the intrinsic value of the metal in the coin. These coins are meant to be traded for primarily for the value of the metal, although there is a slight premium due to the fact that the coin is also legal tender.

For example, 1 oz. American Eagle gold coins have a face value of US$50, even though the metal itself is worth over $600.